Support for the Implementation of Contracts for Difference in Romania (EBRD-12482)

Countries
  • Romania
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Mar 10, 2020
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Sectors
  • Energy
  • Technical Cooperation
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
Not Disclosed
When disclosed, the bank did not provide this value. Please review updated project documents for more information.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Mar 17, 2020

Disclosed by Bank Mar 10, 2020


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Project Description

According to the Bank's website, this project finances technical cooperation to support the development of a Contracts for Difference (CfD) support mechanism to encourage priority investments in low-carbon generation technologies that are needed in the Romanian energy sector. 

This will entail the following: (i) revise the existing Romanian market model; (ii) drafting of legislation for the implementation of the Contracts for Difference framework; (iii) provide recommendations on measures and regulations to ensure adequate longterm funding and creditworthiness of the CfD Counterparty; (iv) drafting the text proposal for the notification of the support scheme to the European Commission; and (v) technical assistance to the Romanian authorities during consultations and dialogue with the European Commission.

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Contact Information

No contact information available at time of writing. 

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.